Ward, Alabama Property Taxes
The median property tax rate in Ward, AL is 0.37%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $73,850 in Ward, the typical annual property tax bill is $218, far below the national median of $2,690. Property taxes in Ward are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ward's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ward or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ward, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Ward Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ward with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ward to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ward, Alabama
Property taxes in Ward, Alabama, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ward is 0.37%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Ward set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ward estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Ward's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is in zip code 35203 with a rate of 0.66%, while the lowest median tax rate is in zip code 36784 with a rate of 0.23%. Understanding how these areas compare with Ward provides valuable insights into the varying tax landscape across Sumter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ward Tax Rate
0.37%
Average Sumter County Tax Rate
0.37%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ward, Alabama
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
36922 | 0.18% | 0.24% | 0.37% | 0.37% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Ward, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ward, Sumter County, Alabama. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Ward, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Sumter County is $73,850. The tax bill at the 25th percentile is $129, while at the 75th percentile, it is $377. The highest and lowest median tax bills are both $218, found in the 36922 zip code. Being aware of these valuation processes in Ward helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ward Assessed Value
$73,850
Average Sumter County Assessed Value
$62,300
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ward, Alabama
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
36922 | $21,150 | $42,850 | $73,850 | $110,285 | $241,850 |
Source: Ownwell
Property Tax Bills Across Ward, Alabama
In Ward, Sumter County, AL, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. Various factors such as property size, location, and improvements are considered in this assessment. The local tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Ward, the median home price is $73,850. The property tax bill can vary significantly, with the 25th percentile at $129 and the 75th percentile at $377. For those in the 90th percentile, the tax bill can go up to $724. This range illustrates how different factors can influence the final tax amount. Compared to the national median property tax rate of 0.99%, the tax rates in Ward can be seen as relatively moderate, making it an appealing location for homeowners looking for manageable property tax bills.
Average Ward Tax Bill
$218
Average Sumter County Tax Bill
$245
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Ward, Alabama
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
36922 | $67 | $129 | $218 | $377 | $724 |
Source: Ownwell